“The reality is that unconventional monetary policy is difficult, perceived as risky, and never pursued with the vigor of conventional monetary policy.”
--Paul Krugman, NYT, March 17, 2010
"Reducing policy interest rates to the zero bound fails to stimulate credit supply and demand in a ‘balance sheet recession’ in which the private sector is deleveraging."
--Adair Turner, 20 May, 2013

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Monday, December 8, 2014

Barry, Just Barry, and Nothing But Barry

"I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them. It is not to inaugurate new programs, but to cancel old ones that do violence to the Constitution, or that have failed their purpose, or that impose on the people an unwarranted financial burden. I will not attempt to discover whether legislation is ‘needed’ before I have first determined whether it is constitutionally permissible. And if I should later be attacked for neglecting my constituents' interests, I shall reply that I was informed that their main interest is liberty and that in that cause I am doing the very best I can" -- Barry Goldwater, 1960.

About Me

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@christophermah3
I retired from Moody's in 2007 after 30 years on Wall Street. My core expertise and experience is in the analysis of banks and sovereigns, with a "minor" in corporate credit. I am a student of the markets with a generally libertarian bent except with respect to financial regulation where I am a hawk, and monetary policy, where I am a dove. I am an adherent of the school of Market Monetarism. I consider myself to be an expert on the subject of "too big to fail".
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